Peachtree Services’ £135m GDV, four-acre Camberwell Quarter scheme in Southwark has been put up for sale.
Knight Frank’s residential land and industrial agency teams have been appointed alongside Levy Real Estate to seek offers of more than £20m for the freehold of the site, which currently hosts Burgess Business Park. It is being marketed as an investment or redevelopment opportunity.
Peachtree received planning permission from Southwark Council to redevelop the business park into a major residential-led scheme last year (pictured). Under the proposals, existing buildings would be demolished and replaced with 375 homes and 56,000 sq ft of commercial space.
However, the site is additionally being marketed with scope to be sold as five individual lots for industrial use, according to marketing materials seen by EG.
The existing premises total 136,436 sq ft and comprise a mix of warehousing, office and industrial units. Its occupiers generate £350,458 in passing rent per annum. The leases across those buildings are set to expire between now and July 2025.
The marketing materials suggest that, as an industrial site, it would appeal to a range of occupier types including owner-occupiers, retailers, manufacturers, last-mile and third-party logistics operators, service providers, trade counter occupiers, self-storage operators, artists, workshop occupiers, office users and dark kitchens.
Industrial rental values across south London range from £25 to £40 per sq ft, while rents for primary and secondary stock in the Camberwell area are in the region of £30 per sq ft and £22.50 per sq ft respectively.
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